STRATA Skin Sciences Announces Expansion of Distribution Agreement with Kosmo Meditech

Agreement further solidifies the strength and growth of the partnership between STRATA Skin Sciences and Kosmo Meditech

HORSHAM, Pa., Dec. 29, 2023 (GLOBE NEWSWIRE) -- STRATA Skin Sciences, Inc. (“STRATA” or the “Company”) (NASDAQ: SSKN), a medical technology company dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions, today announced the expansion of a direct distribution agreement with Kosmo Meditech (“Kosmo”), which is now assigned to Kosmo's corporate parent, Cutech, Inc., effective as of January 1, 2024, for a combination of direct capital sales and direct recurring revenue sales in Korea.

The key highlights of this amendment, which reinforce STRATA's commitment to innovation and customer satisfaction, include:

• Extended term through December 31, 2026, ensuring a prolonged and stable partnership
  
• Established defined annual and quarterly performance-based purchase requirements, including STRATA becoming sole provider of gas and consumables, securing a consistent demand for STRATA’s products, providing a reliable forecast for production and inventory management, and ensuring stronger top-line revenue
  

“This agreement not only signifies the strength and growth of the partnership between STRATA and Kosmo but also reinforces STRATA's dedication to upholding the highest standards in product and service offerings for dermatological treatments worldwide,” stated Dr. Dolev Rafaeli, President and Chief Executive Officer of STRATA. “Korea continues to present a significant opportunity for us, leveraging Kosmo’s extensive in-country distribution network. This ongoing collaboration allows us to provide our customers with innovative therapeutic solutions while ensuring a framework for sustainable growth and market leadership.”

About Kosmo Meditech
Kosmo Meditech is a Korean distributor of medical devices in Dermatology and other medical markets. Kosmo Meditech has been a distributor of the XTRAC excimer laser in partnership with STRATA Skin Sciences (and its predecessor) for over 16 years. The Kosmo platform in combination with the know-how generated by STRATA in the US will enable an efficient deployment of the business model into existing and new Dermatology clinics.

The Korean Dermatology clinic market comprises 1,800 physicians. XTRAC has been sold and is used by over 250 hospital and private practice clinics.

Korea’s Vitiligo and Psoriasis patient population is approximately 1 million. The treatment by 308nm Excimer is covered by the national health insurance with reimbursement rates of $15 to $50 per procedure.